Treasury auctions · 30-year 3-month bond
How did the latest 30-year 3-month Treasury bond auction go?
The last 30-year 3-month bond auction, on , sold at a high yield of 5.697% with a bid-to-cover of 3.71.
Discontinued Treasury has not auctioned this term since 10 August 2000.
Right now
The high yield was 5.697% on 10 August 2000, down from 6.340% at the auction before.
Its own history
The bid-to-cover ratio was higher than all 1 earlier 30-year 3-month bond auctions we hold.
The high yield was lower than all 2 earlier 30-year 3-month bond auctions we hold and the high minus median was lower than all 2 earlier 30-year 3-month bond auctions we hold.
Size
Treasury offered $5 billion and sold $5.774 billion on 10 Aug 2000.
Understanding the 30-year 3-month bond auction
Where it stands today
The high yield was 5.697% at the 30-year 3-month bond auction of , with a bid-to-cover ratio of 3.71.
What do these figures measure?
The high yield is the highest rate Treasury accepted; every winning bidder gets it. The bid-to-cover ratio is bids received divided by the amount sold. Shares are of competitive bids accepted. High minus median shows how far the accepted cut-off sat above the middle accepted bid; it is not the market's auction tail, which needs a when-issued price that is not public.
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What these figures cannot tell
- Why it sold where it did. Results show what was bid and accepted, not the reasons behind any bid.
- The auction tail as markets quote it. That compares the high yield with the when-issued yield just before bids closed, a market price that is not public; we show high minus median instead, a different measure.
- Who the bidders are. Indirect bidders include foreign and international accounts bidding through the New York Fed and investors bidding through dealers; Treasury does not publish names.
- Demand on another day. A bid-to-cover ratio counts bids at one auction against the amount offered, and the amount offered changes from auction to auction.
The numbers behind the chart
How does the latest auction compare with earlier ones?Every measure, window by window
| Measure | This auction | Window | Higher | Lower | Median |
|---|---|---|---|---|---|
| Bid-to-cover ratio | 3.71 | All 1 since 10 February 2000 | 0 of 1 | 1 of 1 | 1.33 |
| High yield | 5.697 | All 2 since 11 August 1994 | 2 of 2 | 0 of 2 | 6.965 |
| High minus median, basis points | 0.9 | All 2 since 11 August 1994 | 2 of 2 | 0 of 2 | 8.2 |
The table scrolls sideways; the first column stays in place.
What were the results of every 30-year 3-month bond auction?3 auctions, newest first
3 30-year 3-month bond auctions with results since 11 August 1994.
| Auction | Offered as | High yield, % | Bid-to-cover | Offered, $ billion | Sold, $ billion | Indirect, % | Direct, % | Dealers, % | High − median, bp |
|---|---|---|---|---|---|---|---|---|---|
| 29-Year 9-Month, reopening | 5.697 | 3.71 | 5.000 | 5.774 | – | – | – | 0.9 | |
| 30-Year 3-Month | 6.340 | 1.33 | 10.000 | 11.271 | – | – | – | 13.3 | |
| 30-Year 3-Month | 7.590 | – | 11.000 | 11.456 | – | – | – | 3.0 |
The table scrolls sideways; the first column stays in place.
What do the figures leave out, and how are they cited?Limits, dates and how to cite
Observed .
How to cite this
U.S. Treasury, Bureau of the Fiscal Service, Fiscal Data, Treasury Securities Auctions Data, through 10 August 2000. Compiled by 500metrics, "How did the latest 30-year 3-month Treasury bond auction go?", https://500metrics.com/treasury/auctions/30-year-3-month-bond.
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